The report forecasts the global telecom IoT market to grow at a CAGR of 42.36% during the period 2016-2020.

The report, Global Telecom IoT Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

One of latest trends in the market is growing popularity of smart wearable products and services. Wearable devices are being widely used in hospitals and connected homes to provide better healthcare facilities to people. These devices work on M2M technology as data exchange takes place between two devices. A wearable device, for example, can capture the movements of a patient, and the data can be directly sent to a physician's tablet or any other handheld device. Wearable devices such as activity trackers, smartwatches, glucose monitors, heart rate monitors, health monitors, and pedometers are used to track the activities of doctors, staff, and patients.

According to the report, one of the primary drivers in the market is growing adoption of intelligent transportation systems (ITS). Safe, efficient, and accessible public transportation has become a top priority in the recent years with increasing congestion on urban roadways. The congestion impedes traffic for nearly eight hours per day in major metropolitan cities and suburbs. Intelligent public transportation solutions provide application-enabling network services to connect public transit operations securely. The intelligent transportation systems enable operators to securely gather, analyze, and distribute networked resources in real time. These systems also provide greater visibility into important transportation assets and improve communication among passengers to reduce the impact of traffic congestion and emergency incidents. For instance, Lyft, a ride-sharing service has been supported by General Motors ($500 million) to collaborate on IoT projects and provide efficient public commuting services.

Further, the report states that one major challenge in the market is security concerns.